Stock trading rules

If the stocks of listed companies fluctuate abnormally, the exchange will implement a temporary suspension system. The relevant pause rules are as follows:

Shanghai and Shenzhen motherboards:

1. The deviation of daily closing price for three consecutive trading days reached 20%.

2. The ratio of the average daily turnover rate for three consecutive trading days to the average daily turnover rate for the previous five trading days is 30 times, and the cumulative turnover rate for three consecutive trading days is 20%.

The above two points were suspended for one hour, and the suspension time span was 14:57, and the trading resumed on the same day 14:57.

3. On the first day of listing of new shares in Shenzhen Stock Exchange, the intraday transaction price increased or decreased by more than 10% for the first time compared with the opening price of that day. The fair will be suspended for 30 hours, and then it can rise to 44%.

4. For three consecutive trading days, the deviation of the daily closing price of the stock on the risk warning board has reached 65,438+05%, and the stock shall be suspended for at least one trading day.

Growth enterprise market and science and technology innovation board:

1. The first-day price rises by 30% or 60% compared with the opening price, and the trading is suspended for each 10 minute.

2. If the deviation of daily closing price reaches 30% for three consecutive trading days, the trading shall be suspended for at least one trading day.

[Extended information]

Abnormal stock fluctuations are generally caused by large-scale speculation of short-term funds or corporate restructuring.

Basic explanation

According to the trading rules of the exchange, the deviation of the closing price for three consecutive trading days exceeds 20%(ST, *ST is 15%), and there are no undisclosed matters that should be disclosed according to relevant regulations, or plans, negotiations, intentions, agreements and other information related to this matter that have a great impact on the company's stock trading price, which is called abnormal fluctuations in stock trading. Shanghai Stock Exchange refers to the abnormal fluctuation (both ups and downs are included) when the trading reaches the daily limit for three consecutive trading days.

The cumulative deviation of the closing price increase of Shenzhen Stock Exchange for three consecutive trading days is 20%. If it's not normal, pause for an hour.

Under any of the following circumstances, the stock exchange will determine whether it belongs to abnormal fluctuations in stock trading according to market conditions. (1) If the deviation of daily closing price of a stock for three consecutive trading days reaches 20% (ST and *ST specially treated before 2011were 15%, and now it is revised to 12%), it is an abnormal fluctuation. Explanation: Deviation value refers to the deviation value of the stock from the relevant benchmark index. The benchmark index of stocks listed on Shanghai Stock Exchange is Shanghai Stock Exchange, and the benchmark index of stocks listed on Shenzhen Stock Exchange is Shenzhen Stock Exchange. The calculation method of the deviation value is as follows: Suppose the stock (not belonging to ST or S class) falls by 10% today, while the relevant benchmark index rises by 1%, and its deviation value of the day is =-1% =-1. However, some stocks (non-ST or S-class) often encounter the situation that the cumulative deviation value of rising or falling for three consecutive days exceeds 20%, and this 20% is calculated by adding up the deviation values of the stock for three consecutive days. For example, the benchmark index of stock price fluctuation has a deviation of 8%-1% 9% on the first day, 7% 2% 5% on the second day, 10% 3% 7% on the third day and a cumulative deviation of 2 1% in three days. (2) The shares have been listed on the "Public Information of Stocks and Funds" for five consecutive trading days; (3) The amplitude of the stock price has reached 15% for three consecutive trading days. (4) The average daily trading volume of stocks has increased by 50% for five consecutive trading days; (five) other circumstances that the stock exchange or the China Securities Regulatory Commission considers to be abnormal fluctuations. If one of the circumstances listed in items (1) to (4) of the preceding paragraph is identified as abnormal fluctuation, the abnormal fluctuation shall be recalculated from the date of announcement. When a listed company routinely suspends trading due to reasons such as convening a general meeting of shareholders and issuing regular reports. , abnormal fluctuations are calculated from the date of stock resumption.